The United States has delayed the sale of international assets belonging to Lukoil as negotiations continue over Ukraine peace talks, according to sources.
The decision extends the deadline for asset deals to April 1, moving beyond the previous February 28 cutoff. Talks involving U.S., Russian, and Ukrainian officials in Geneva, Abu Dhabi, and Miami have yet to produce a breakthrough on ending the conflict in Ukraine.
Washington is reportedly using the asset sales as leverage in broader discussions tied to sanctions and economic arrangements.
The divestment process follows sanctions imposed on Russian energy companies, requiring Lukoil’s international assets valued at $22 billion to be sold under U.S. oversight.
Any transaction stipulates that proceeds be placed in blocked accounts, ensuring funds are not accessible to the company.
Officials say the measure aims to reduce revenue supporting Russia’s war efforts while encouraging diplomatic progress. The asset portfolio includes oilfields, refineries, and fuel stations spanning regions from the Middle East to Europe.
Interest in the assets has attracted multiple bidders, including energy and investment firms such as ExxonMobil and Carlyle Group, highlighting commercial appetite despite geopolitical risks.
Negotiations remain complex as diplomatic talks between the U.S. and Russia continue, with no resolution in sight.
According to Reuters, further discussions are expected in the coming months. The situation underscores how economic sanctions and peace negotiations remain intertwined in efforts to resolve the Ukraine conflict.